Investors appeared unimpressed as shares in AdEPT Telecom closed down over five per cent the day after releasing its final results, despite recording double digit growth across the board.
The Tunbridge Wells telecoms firm said its pretax profit grew to £2.8million for the year to March 31 up from £2.1million the year prior, helped by 31 per cent growth in revenue to £28.9million from £22.1million.
Revenue was boosted by the company’s buyout of Centrix, the UK communications services provider in May 2015, leading to an increase in their public and private sector customer base.
Shareholders were rewarded with a 37 per cent increase in the total dividend payout, which rose to 6.50p from 4.75p the previous year.
Chairman Roger Wilson said the company is ‘confident’ that continued strong cash generation would support a ‘progressive’ dividend policy, adding: “The excellent result for this year was delivered through a combination of strategic acquisition and organic contract wins, improving margins on customer contracts and maintaining high levels of operational efficiency.”